Black Sea residential real estate is becoming increasingly popular, especially with customers from the Middle East. Sales in Samsun alone grew by 2% in the first two months of 2024.
With increasing demand, prices are also rising: the average cost of a typical residence area of 110 square metres is TL 2.8 million.
Returning to Samsung as the most popular place — it sells the most housing in the region — according to the Endeksa real estate valuation platform, house prices by the end of February had increased by 62% over the past year and by 271% over two years.
The average selling price of a 130 sq. m apartment is TL 2.586 million.
Artvin is in great demand as well: the cost of housing here had risen more by the end of February — by 100.58% over the past year and by 349.2% over two years (in TL). The average price of a 138 sq.m residence in Artvin was TL 2.605 million.
The growth in Sinop is 87.9% for the year and 375.98% for two years. The average cost of a 110 sq.m housing unit is TL 2.79 million.
According to the Emlakjet real estate platform, the highest demand for rental housing in the Black Sea region was recorded in Samsun, Trabzon and Ordu, where rental rates increased by 175% in Ordu compared to February 2023, by 122% in Samsun and by 100% (despite the decline in autumn 2023) in Trabzon.